PE/HF in Asia
Hi ppl,
Would like to ask if the chances are small to move to HF/PE in Asia (HK, China) after two years of analyst stint. Am joining an advisory firm (laz, roth) in london for FT in 08. Im not sure, but it seems that the buyside shops there are usually looking for candidates with local experience (i.e.analysts in BB, HK offices) . Does it hurt my chances becoz i won't have any deal experience in asia?
Btw, Im hoping to work in the restructuriung group to get some 'distressed' skills... is the distressed market in asia still pretty small?
Many thanks
yes, as far as i know, distressed market here is pretty small, especially in china..
while it helps to have international expereince in HK, it is not that important anymore. there are a lot of HK who have both international and local experience. But never the less still try! HK is a great City! Try to get a headhunter.
Well... guess the ppl in this forum are not too interested in this topic... Anyways, thanks for the input guys.
Btw, I'm curious about how am i gonna interview(if i have one) with those buyside shops by that time? Since I will be stuck in London while they will be conducting the interviews in HK, no?
As far as I know, Asian buyout firms actively recruit from the US and UK, so you won't be disadvantaged in terms of your skillset, but the best way is always getting to know the right network, so you are going to have to do some work there in London.
You won't find too many local distressed shops in Asia, but there are many multinational (by which i mean mostly the US) distressed hedge funds very active in the area. Farallon and Oaktree, to name two of them, are especially very active in Asia.
Asian buyout world is not as well developed as the US, so you don't find firms specialized in one special niche strategy such as distressed. However, Asian buyout tends to have a lot more distressed component to it (you don't see too many normal buyouts; usually management is forced to sell the company because of underperformance. This is especially so in Japan, and Goldman's main Japanese business actually is its restructuring business.). So what you see in Asia tend to have turnaround components to it.
Of course, by the time you finish your analyst stint, things can be quite different. WHo knows, maybe there might be one day where there will be control buyout in China.
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